Commercial space For Sale in Union City, NJ
 

MLS# : 240016475

Street : 2207 SUMMIT AVE
Price : $14,000,000
Town : Union City, NJ 07087
General Tax Rate (2023) : 7.438%

PROPERTY DETAILS

PROPERTY DESCRIPTION

Prime Development Opportunity in Union City, NJ! Presenting a rare and exceptional development opportunity in the heart of one of the best locations on the planet. This commercial industrial property comes with fully approved plans for an 18-story building, set to house 208 residential units. This prime location offers easy access to New York City, making it an attractive option for both developers and future residents. The property is fully approved for this multi-story residential building, eliminating the need for lengthy zoning approvals and accelerating your development timeline. Strategic Location: Situated in a vibrant and bustling location, just minutes from the Lincoln Tunnel and major highways, this property is ideal for commuters looking for quick access to Manhattan and other parts of New Jersey. High Demand Area: Union City is a growing community with high demand for residential units, making this development a lucrative investment with strong potential returns. Ample Amenities: The approved development plan includes space for modern amenities, potentially featuring a pool, rooftop lounge, and other desirable features to attract high-quality tenants. Proximity to Public Transport: With nearby access to public transportation, including bus lines and light rail, the location offers convenience for future residents. Lincoln Tunnel and all major arteries nearby! This is a unique opportunity to capitalize on Union City’s expanding real estate market. Whether you’re an experienced developer or an investor looking to enter the development sector, this property provides the foundation for a successful and profitable project. Contact Information: For more details or to schedule a site visit, please contact the Listing Agent. Don’t miss out on this exceptional opportunity to bring a high-rise residential project to life in one of New Jersey’s most desirable urban communities.

Amenities

This listing is a courtesy of PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
201-223-4207 office, listing agent LISA M CATALDI

About Union City, NJ Real Estate Market

With over 67,000 residents, Union City is an integral part of Hudson County in New Jersey state. Located in the northern part of Hudson County, Union City spans just 1.29 square miles, thus making it one of the most densely populated cities in the country and a part of the New York Metropolitan area.

The Union City is situated atop the ridge of the lower Hudson Palisades. Due to a high elevation, the city offers clear views of surrounding municipalities like New Jersey Meadowlands and New York City Skyline. It shares its borders with other parts of Hudson County, such as Jersey City, Hoboken, Weehawken, North Bergen and West New York.

The formation of Union City as a city happened in 1925 by an act of the New Jersey Legislature. Union City was established by merging Union Hill and West Hoboken Township. The city’s name got derived from the names of these two municipalities. In its early stages, Union City was inhabited by German and Spanish speaking people.
Union City is divided into two parts by New Jersey Route 495, which resulted in the renaming of many street names in the city. Most of the homes for sale in this part of Hudson County are located on streets like 32nd Street, Hackensack Plank Road and Bergen Turnpike, which form Union City’s urban grid.
Population:  65,551
Total Housing Units:  22,411
Single Family Homes:  5,756
Apartments:  16,655
General Tax Rate (2023):  7.438%
Effective Tax Rate (2023):  2.161%
Compare To Other Towns

Union City Market Indicators

PRICE INDEX

Average Price* (12mo):  $563,786
Homes Sold* (12mo):  13
PRICE INDEX
SINGLE FAMILY HOME SALES

Union City, NJ
12 Month Moving Average


1 YR 2 YR 3 YR 5 YR 7 YR MAX
 

Download Full Home Sales Report

PRICE INDEX

Average Price* (12mo):  $415,093
Apatments Sold* (12mo):  133
PRICE INDEX
APARTMENT SALES

Union City, NJ
12 Month Moving Average


1 YR 2 YR 3 YR 5 YR 7 YR MAX

 

Download Full Apartment Sales Report

REAL ESTATE TAXES

General Tax Rate (2023):  7.438%
Effective Tax Rate (2023):  2.161%
GENRAL TAX RATE - Union City, NJ



MADISON ADAMSTM

office: 201-760-1100
84 E Ridgewood Ave, Suite 201
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)

Contact Info

FOR APPOINTMENTS CONTACT


Sales Associate
917-863-6560 (cell)

Madisom Adams Sales Associate Cindy Chiashin Shih


Sales Associate
551-358-4252 (cell)

Madisom Adams Sales Associate Henry A. Washington


Licensed as Marek Zagorski
Broker
201-478-3185 (cell)

Madisom Adams Broker Marek Zagorski


Real estate inventory
Union City
Homes : $489,000 - 998,000 6 avail
Condos : $85,000 - 1,399,999 53 avail
Co-ops : $248,000 - 589,900 15 avail
Twnhs : $489,000 - 489,000 1 avail
2-4 Fam : $550,000 - 1,899,000 22 avail
5+ Fam : $849,000 - 1,999,000 8 avail
Land : $400,000 - 999,000 3 avail
Rentals : $2,100 - 5,000 14 avail
Mixd Use : $825,000 - 2,650,000 15 avail
Com S : -
Com L : -
Biz : $81,900 - 250,000 3 avail


Similar Listings in Union City

The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Madison Adams are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
NJMLS is the owner of the copyrights of the listing content displayed for IDX. The NJMLS Internet Data Exchange Logo is a service mark owned by the NJMLS, Inc. All information deemed reliable but not guaranteed. Last date updated: 11/21/2024 00:05 AM Source: New Jersey Multiple Listing Service, Inc. “©2024 New Jersey Multiple Listing Service, Inc. All rights reserved.”


General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.

Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.

Data Source: US Census 2010, NJ MLS, State of New Jersey Department of the Treasury

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Madison AdamsTM

84 E Ridgewood Ave, Suite 201
Ridgewood, NJ 07450
201 760-1100 (office)
201 760-1102 (fax)
office@madisonadams.com